State of Tennessee Treasury Department Acquires 13,886 Shares of PNC Financial Services Group Inc (NYSE:PNC)

State of Tennessee Treasury Department increased its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 310,425 shares of the financial services provider’s stock after acquiring an additional 13,886 shares during the period. State of Tennessee Treasury Department owned about 0.07% of PNC Financial Services Group worth $49,553,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sigma Planning Corp grew its holdings in shares of PNC Financial Services Group by 9.0% in the third quarter. Sigma Planning Corp now owns 10,128 shares of the financial services provider’s stock valued at $1,420,000 after acquiring an additional 838 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in shares of PNC Financial Services Group by 9.9% in the third quarter. First Allied Advisory Services Inc. now owns 11,732 shares of the financial services provider’s stock valued at $1,654,000 after acquiring an additional 1,056 shares in the last quarter. Pictet Asset Management Ltd. grew its holdings in shares of PNC Financial Services Group by 4.4% in the third quarter. Pictet Asset Management Ltd. now owns 247,219 shares of the financial services provider’s stock valued at $34,650,000 after acquiring an additional 10,323 shares in the last quarter. West Oak Capital LLC grew its holdings in shares of PNC Financial Services Group by 99.0% in the fourth quarter. West Oak Capital LLC now owns 201 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Ingalls & Snyder LLC grew its holdings in shares of PNC Financial Services Group by 13.0% in the third quarter. Ingalls & Snyder LLC now owns 1,674 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 192 shares in the last quarter. 79.38% of the stock is owned by institutional investors.

PNC has been the topic of several research analyst reports. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Wednesday, January 8th. Citigroup upped their price objective on PNC Financial Services Group from $139.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Nomura reiterated a “hold” rating and issued a $155.00 price objective on shares of PNC Financial Services Group in a research note on Monday, January 27th. Wells Fargo & Co upped their price objective on PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Finally, Odeon Capital Group began coverage on PNC Financial Services Group in a research report on Monday, November 25th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $158.18.

In other news, Director Charles E. Bunch purchased 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $153.11 per share, with a total value of $153,110.00. Following the completion of the acquisition, the director now owns 4,781 shares in the company, valued at approximately $732,018.91. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Vicki C. Henn sold 3,723 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $151.96, for a total transaction of $565,747.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,723 shares of company stock worth $5,159,747. Insiders own 0.37% of the company’s stock.

Shares of NYSE:PNC traded down $1.19 during trading on Friday, hitting $154.13. 1,731,656 shares of the company were exchanged, compared to its average volume of 2,043,473. The company has a market cap of $68.51 billion, a PE ratio of 13.52, a P/E/G ratio of 1.66 and a beta of 1.14. The stock has a 50 day moving average of $155.05 and a 200 day moving average of $145.84. PNC Financial Services Group Inc has a 52-week low of $118.70 and a 52-week high of $161.79. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.91 and a quick ratio of 0.90.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.05. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.48 billion. PNC Financial Services Group had a return on equity of 10.92% and a net margin of 24.83%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.75 earnings per share. Sell-side analysts forecast that PNC Financial Services Group Inc will post 11.81 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Friday, January 17th were issued a $1.15 dividend. The ex-dividend date was Thursday, January 16th. This represents a $4.60 annualized dividend and a dividend yield of 2.98%. PNC Financial Services Group’s payout ratio is currently 40.39%.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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